- Indices from Asia-Pacific traded mixed today - S&P/ASX 200 and Kospi traded 0.5% higher while Nifty 50 dropped 0.6%
- Indices from China traded 0.2-1.5% lower today, following a new year's speech from Chinese President Xi in which he warned of challenges facing the Chinese economy
- A weaker-than-expected official PMIs from China released over the weekend also contributed to the drop in Chinese stocks today. Manufacturing index dropped from 49.4 to 49.0 (exp. 49.5) while services index ticked higher from 50.2 to 50.4 (exp. 50.5)
- European index futures point to a higher opening of the cash session on the Old Continent today
- JPY is trading lower today following a strong, 7.6 magnitude earthquake that hit Japan over the weekend. Media reports say of at least 30 victims. This was the strongest earthquake Japan has seen since 2011 event that led to Fukushima nuclear power plant disaster
- Oil trades higher as tensions in the Middle East continue to rise. Houthi vowed to retaliate after US military responded to an attack on commercial vessels and sank three Houthi boats in the process. Iran dispatched a warship to the Red Sea following the event
- USD gains 0.7% against Israeli shekel (USDILS) after Bank of Israel cut benchmark rate from 4.75 to 4.50% yesterday
- Bank of America does not expect RBA to begin cutting rates until 2025.
- Singapore GDP increased 1.7% QoQ in Q4 2023 (exp. 0.7% QoQ). On an annual basis, growth reached 2.8% YoY (exp. 1.8% YoY)
- According to Reuters report, 135 million domestic tourist trips were made during the three-day New Year's holiday in China, marking an increase of 155% compared to last year
- Cryptocurrencies trade higher, with Bitcoin gaining 4% and moving above $45,000 mark - the highest level since April 2022
- AUD and GBP are the best performing major currencies, while JPY and CHF lag the most
BITCOIN caught a bid at the beginning of a new year and managed to break above the $44,300 resistance zone, acting as the upper limit of the trading range. Bitcoin trades at the highest level since April 2022. Source: xStation5
